Social Security 101
April 17, 2014
As a young adult starting my career in Chicago in the 1980s, I didn’t have a clue how Social Security worked or why money was being taken out of my scrawny paycheck.
But trust me on this: the Social Security retirement program becomes a lot more interesting to workers as they age and their retirement horizon comes into sharp focus. It affects just about every American – and most of us pay into it.
It is not only the bedrock of retirement for millions of Americans and their spouses, but it’s also a source of income for their survivors, including children, and workers who become disabled.
In this video, officials from the U.S. Social Security Administration explain what its programs do and why they matter.
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The Social Security system is a pain when you have to pay into it, but a blessing when you are at the other end of life’s spectrum and are relying on the funds. Just like taxes, when get laid off and you need unemployment benefits, it all makes sense. Just shows that humans are born selfish. It takes effort to think about others, even ourselves, when we are older and incapacitated.
Great article! Thank you! I’m looking forward to your next article 🙂